Montecito Medical Expands Milwaukee Footprint

By Alex Ciorogar

Montecito Medical Real Estate has bought a 71,000-square-foot medical office building in Pewaukee, Wis., from Orthopaedic Associates of Wisconsin (OAW), thus expanding its footprint by roughly 200,000 square feet.

Built in 2016, the two-story facility—which is fully occupied—also houses a 24,563-square-foot accredited ambulatory surgery center with five operating rooms and 20 prep and recovery rooms. The surgery center is a joint venture between OAW and ProHealth. Additionally, the property encompasses a 5,000-square-foot imaging center with an MRI, 31,500 square feet of clinical space and 10,000 square feet of physical therapy space. What’s more, the building also includes a 15,200-square-foot covered parking garage featuring 32 stalls.

“We here at OAW looked long and hard for the right partner to deal with on the sale of our building. Montecito checked all the boxes and in doing so were professional, respectful and outstanding to work with from start to finish. Their vast experience and diverse portfolio (were) impressive and we are now part of their holdings,” Mark Smith, chief administrative office of OAW, said in prepared remarks.